In a statement on Wednesday, Monte Paschi said that the extra money was needed as a result of "the ongoing analysis of certain structured transactions carried out in previous financial years.

"Considering the negative profitability of such transactions, currently included in the portfolio of financial assets whose underlying are sovereign bonds, the Bank will re-negotiate their funding structure to the end of improving their profitability," it added.

Last month, Moody's cut the credit rating of Monte Paschi to "junk", and warned that there was a "material probability" that the lender may need another cash injection from the Italian government.

At the time, Mr Viola told Reuters that the money that the bank had already requested from the government meant it no longer had a capital shortfall problem.